XRP/USD complete the trading week at 0.5901 and continue to move as part of the decline and left the bullish channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers and a potential continuation of the decline in the cryptocurrency already from current levels. At the moment, we should expect an attempt to develop a bullish correction and test the resistance area near 0.7355. Where can we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 0.2655 again.
XRP Weekly Forecast January 31 — February 4, 2022
An additional signal in favor of a decrease in XRP quotes in the current trading week of January 31 — February 4, 2022 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to reduce the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 1.0505 area. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD quotes with a target above the level of 1.2565. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the area of 0.5005.
XRP Weekly Forecast January 31 — February 4, 2022 suggests an attempt to test the resistance level near the 0.7355 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.2655. An additional signal in favor of a decrease in the cost of XRP will be a test of the trend line on the relative strength index (RSI). The breakdown of the area of 1.0505 will cancel the option of falling cryptocurrency. This will indicate a continuation of the rise with the target above the level of 1.2565.
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